CONTEXTUAL: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CONTEXTUAL
Largest movements
- Cash +€96,348
up €96,348 (+141.1%), from €68,277 to €164,625
mainly Net result for the year (+€99,198) and Trade debts (+€339)
- Receivables within one year +€3,836
up €3,836 (+23.2%), from €16,541 to €20,377
of which Trade receivables: +€5,708
- Profit (loss) carried forward +€99,198
up €99,198 (+116.2%), from €85,369 to €184,567
- Gross operating margin +€21,730
up €21,730 (+19.0%), from €114,260 to €135,990
- Taxes +€4,604
up €4,604 (+20.7%), from €22,189 to €26,793
- Other operating charges +€3,148
up €3,148 (+48.4%), from €6,502 to €9,649
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,670 | €186,500 | +€99,830 | +115.2% |
| Fixed assets | 21/28 | €1,255 | €962 | -€294 | -23.4% |
| Tangible fixed assets | 22/27 | €1,255 | €962 | -€294 | -23.4% |
| Plant, machinery and equipment | 23 | €1,255 | €962 | -€294 | -23.4% |
| Current assets | 29/58 | €85,415 | €185,538 | +€100,123 | +117.2% |
| Amounts receivable within one year | 40/41 | €16,541 | €20,377 | +€3,836 | +23.2% |
| Trade receivables | 40 | €13,494 | €19,201 | +€5,708 | +42.3% |
| Other amounts receivable | 41 | €3,047 | €1,176 | -€1,871 | -61.4% |
| Cash at bank and in hand | 54/58 | €68,277 | €164,625 | +€96,348 | +141.1% |
| Deferred charges and accrued income | 490/1 | €598 | €537 | -€61 | -10.2% |
| Total equity and liabilities | 10/49 | €86,670 | €186,500 | +€99,830 | +115.2% |
| Equity | 10/15 | €85,370 | €184,568 | +€99,198 | +116.2% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,369 | €184,567 | +€99,198 | +116.2% |
| Amounts payable | 17/49 | €1,300 | €1,931 | +€632 | +48.6% |
| Amounts payable within one year | 42/48 | €1,300 | €1,931 | +€632 | +48.6% |
| Trade debts | 44 | €853 | €1,191 | +€339 | +39.7% |
| Suppliers | 440/4 | €853 | €1,191 | +€339 | +39.7% |
| Taxes, remuneration and social security | 45 | €447 | €740 | +€293 | +65.5% |
| Taxes | 450/3 | €447 | €740 | +€293 | +65.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €294 | +€81 | +37.9% |
| Other operating charges | 640/8 | €6,502 | €9,649 | +€3,148 | +48.4% |
| Gross operating margin | 9900 | €114,260 | €135,990 | +€21,730 | +19.0% |
| Operating profit (loss) | 9901 | €107,545 | €126,047 | +€18,501 | +17.2% |
| Financial income | 75/76B | €38 | €0 | -€38 | -100.0% |
| Recurring financial income | 75 | €38 | €0 | -€38 | -100.0% |
| Financial charges | 65/66B | €25 | €55 | +€31 | +122.7% |
| Recurring financial charges | 65 | €25 | €55 | +€31 | +122.7% |
| Profit (loss) for the period before taxes | 9903 | €107,558 | €125,991 | +€18,433 | +17.1% |
| Income taxes | 67/77 | €22,189 | €26,793 | +€4,604 | +20.7% |
| Profit (loss) for the period | 9904 | €85,369 | €99,198 | +€13,829 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €85,369 | €99,198 | +€13,829 | +16.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.